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jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their own industries. but they didn't -- >> nobody remembers. >> nobody remembers them and they were not huge successes. lloyd benson even. look at what he was. a great man in his field. but did not bring much to the table. now you look at paulson, geithner, summers, ruben, morgan, you don't remember him any more than i do, but the fact is they were the men who actually were able to make the treasury work. now, there's no doubt jack lew comes with the authority of the president and the white house. but he has to go further than that. h
jack lew is an inside man. as long as the world doesn't implode, americans much less the world will pay little attention to who heads the u.s. treasury. what do you think? >> what do i think? it's really very simple. simple once again. it's not as easy as it's now a domestic issue with the budget battle. if only it were. this is all about who the man is and what does he bring to the table. if we look back at treasury secretaries, paul o'neill and john snow, they were major men in their...
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we have jack lew for u.s. treasury who we already have -- we see very stiff opposition to. and the president surely knew that going in. there have been reports that mr. lew was quite controversial when it came to the debt ceiling negotiation, that the other side did not find him to be sort of someone negotiating in good faith. he went on sunday shows, said the budget needed 60 votes to pass, for example, which is clearly -- it's either intentionally misleading, or he doesn't understand the legislative process. then of course you have chuck hagel. there is controversy on both the left and the right, rather right and the left over that nomination. so this president, it seems like he's pushing the envelope with these nominees. and your producers also pointed out no women. >> been called the band of brothers, a couple of articles have described it that way. maria, what's your take? >> well, i'm not worried about the "controversial nature" of these appointees. i think they will get through. and the white house feels pretty confident that they will get through. but i absolutely a
we have jack lew for u.s. treasury who we already have -- we see very stiff opposition to. and the president surely knew that going in. there have been reports that mr. lew was quite controversial when it came to the debt ceiling negotiation, that the other side did not find him to be sort of someone negotiating in good faith. he went on sunday shows, said the budget needed 60 votes to pass, for example, which is clearly -- it's either intentionally misleading, or he doesn't understand the...
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. >> in jack lew? >> that's right. the president can't pass major new legislation. he can't formulate major new programs right now. what he has to do now is bargain down or ride over these crazy people in the republican party. and we what we need now is not deep thinking from the treasury secretary. if the president wants deep thinkers, he can call joe stiglitz, he can call other people. what he needs from the treasury secretary is somebody who's going to be very effective at dealing with these wild men and making sure that nothing terrible happens. >> i understand that jack lew has depression art on his, the wall of his office, art done by the works progress administration. which would be a good sign for someone like you who believes the depression is back. >> that's, i have to say, the most reassuring thing i've heard about him. wpa, you know, they produced a lot of art, which i think it's almost inconceivable now. but also the wpa was one of the really good moments in american policy. in a time of economic disaster, hiring people, giving them jobs to do things th
. >> in jack lew? >> that's right. the president can't pass major new legislation. he can't formulate major new programs right now. what he has to do now is bargain down or ride over these crazy people in the republican party. and we what we need now is not deep thinking from the treasury secretary. if the president wants deep thinkers, he can call joe stiglitz, he can call other people. what he needs from the treasury secretary is somebody who's going to be very effective at...
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jack lew. >> men. >> they are all men, aren't they do they do have something in common. there is no talk about what women will repopulate the cabinet. we will lose hillary clinton. women are saying gosh, this is becoming all boy's club. that isn't what we were promised with president obama. laura ingraham had thoughts on the hypocrisy. >> the president made a big deal, big splash? 2004 we are not red, white, or blue united states of america. that was refreshing. beaten counting in washington. the president has got himself in trouble on his own, right? because he made such a big deal of well, we are diverse and have diversity. how about just have excellence. women black or gay or straight it doesn't matter. if they are excellent appointees and smart and knowledge being and can offer something to the american people isn't that what we deserve. >> >> who cares how many one legged is a is a who cares? whether they are impressive or not. >> if it were 100% white men all whom were excellent i would say maybe he is not getting a woman's progressive. >> what about all women? >>
jack lew. >> men. >> they are all men, aren't they do they do have something in common. there is no talk about what women will repopulate the cabinet. we will lose hillary clinton. women are saying gosh, this is becoming all boy's club. that isn't what we were promised with president obama. laura ingraham had thoughts on the hypocrisy. >> the president made a big deal, big splash? 2004 we are not red, white, or blue united states of america. that was refreshing. beaten...
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gwen: jack lew, the choice for treasury -- >> as a kid growing up in queens, i had dreams of making a difference in the world. gwen: john brennan at the c.i.a., and john kerry at state. key advisers whose actions could define the obama legacy. plus, tackling two prickly issues -- u.s. involvement in plus, tackling two prickly issues -- u.s. involvement in afghanistan --
gwen: jack lew, the choice for treasury -- >> as a kid growing up in queens, i had dreams of making a difference in the world. gwen: john brennan at the c.i.a., and john kerry at state. key advisers whose actions could define the obama legacy. plus, tackling two prickly issues -- u.s. involvement in plus, tackling two prickly issues -- u.s. involvement in afghanistan --
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i think jack lew is an exceptionally good choice to be secretary of treasury. this is not about saving detroit. it's not about the banking system coming to collapse. we're in a fiscal and budgetary bind of historic proportion and it's going to be congress to a great degree and the white house. and i think that anybody who has been twice budget director, judy, 30 years ago, jack lew was negotiating for the speaker of the house o thomas p o'neill when they were doing the greenspan commission on social security between ronald reagan's white house and the democrats in the house. i mean his experience is-- he doesn't have pan ach, he doesn't have dash, he's not gng to give you, you know, two colourful things. he's to the going to talk off the record like that the. but i just think he is a great choice. >> quickly, some conversation this week about lack of diversity so far in the president's pick. should we be -- >> you know, ruth marcus said he should have had some binders full of women. you for example i do think ruth made the point that there is not a lot-- there'
i think jack lew is an exceptionally good choice to be secretary of treasury. this is not about saving detroit. it's not about the banking system coming to collapse. we're in a fiscal and budgetary bind of historic proportion and it's going to be congress to a great degree and the white house. and i think that anybody who has been twice budget director, judy, 30 years ago, jack lew was negotiating for the speaker of the house o thomas p o'neill when they were doing the greenspan commission on...
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professor black, your assessment of jack lew? >> on financial matters, jack lew has been a failure of pretty epic proportions. he gets promoted precisely because he is willing to be a failure, and is a useful to wall street interests. so you have mentioned two of the things in terms of most important and most destructive deregulation under president clinton by statute. but he was also there for much of the regulation by rule and strong proponent of it, and he was there for much of the cutting of staff, for example, the fdic lost three-quarters of its staff and a huge loss began under clinton. and the whole reinventing government, lou was a strong supporter of that. we were taught, instructed by washington that we were to refer to banks as our clients and our role as regulators, and to think of them as clients. he goes from there to wall street where he was a complete failure. you noted that part of what citicorp did was a bet that housing would fall. that is one of their winning bets. the action made a bunch of losing bets as wel
professor black, your assessment of jack lew? >> on financial matters, jack lew has been a failure of pretty epic proportions. he gets promoted precisely because he is willing to be a failure, and is a useful to wall street interests. so you have mentioned two of the things in terms of most important and most destructive deregulation under president clinton by statute. but he was also there for much of the regulation by rule and strong proponent of it, and he was there for much of the...
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unclear if that's going to mean a seamless transition with the president's nominee jack lew since it seems unlikely at this point lew will be confirmed by the senate before geithner leaves. so maybe the deputy secretary will fill that gap. geithner, if he wants one, can have almost any finance job that he wants. he'll take at least six months to consider his option. they don't say whether or not he wants to go into finance. the question is what kind of job would be appropriate for geithner to take given that he was intimately involved in bank rescue operations over the past several years? and what kind of job could he take in the post-crisis world and still be eligible to come back into government if he wanted? fed chairman ben bernanke, he's expected to move on after his term expires in 2014, and geithner would clearly be someone the president would consider. according to sources, geithner wouldn't want the job but the president has been very successful in getting geithner to do things he hasn't wanted to, like stay on treasury for an extra year or two and geitner has been making ab
unclear if that's going to mean a seamless transition with the president's nominee jack lew since it seems unlikely at this point lew will be confirmed by the senate before geithner leaves. so maybe the deputy secretary will fill that gap. geithner, if he wants one, can have almost any finance job that he wants. he'll take at least six months to consider his option. they don't say whether or not he wants to go into finance. the question is what kind of job would be appropriate for geithner to...
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in terms of whether jacks lew changes anything, you're right the president makes the policy. now, sometimes you can have a treasury secretary that can have an influence like if you have a robert ruben kind of person who had a heavy influence on bill clinton and got him to see how important reducing the deficit was. but obama seems to choose people who are just going to execute, not actually make policy. stuart: okay. dream on kirsten, dream on. i've got to break in for a second. news just in from the news conference for the f.a.a. secretary ray lahood has been holding. >> we believe this is a safe aircraft, talking about the 787 dreamliner, of course referring to the boeing dreamliner, saying look, it's safe. this is what the f.a.a. is saying at the news conference, announcing the review of the dreamliner and that's the conference held right now. boeing stock is down a buck and a half on that. now this: snow in jerusalem, lowest temperature there in decades. lowest temperature in china in three decades. however, the u.s. saw its warmest year on record last year and we've got
in terms of whether jacks lew changes anything, you're right the president makes the policy. now, sometimes you can have a treasury secretary that can have an influence like if you have a robert ruben kind of person who had a heavy influence on bill clinton and got him to see how important reducing the deficit was. but obama seems to choose people who are just going to execute, not actually make policy. stuart: okay. dream on kirsten, dream on. i've got to break in for a second. news just in...
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i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman getting more bullish on the sector. is a run-up almost over? we're talking tranies a little later on. robert frank is coming to the post for the million-dollar minute. >> melissa, i've got the hottest new toy for billionaires. and why this toy made some big news this week. that's coming up on "squawk on [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at
i think jack lew is going to be the same. what was interesting is the geithner treasury has not been especially public treasury, but the idea with jack lew, it will be even less public than that. >> good point. lew not a friend of the camera, as even the president suggested in that presser yesterday. >> exactly. >> thanks a lot, steve lies plan. >> planes, trains and automobiles, dow transports rising, hitting the third consecutive interday high. big names like goldman...
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host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is going to pay the debt back? host: ran on the independent line. caller: i am calling about timothy geithner exactly and the whole federal resolve -- reserve, for that matter. people are making like me of timothy geithner 0 in tax money. i do not make lightly of that. he came in a 0 in tax money knowing that he owed tax money. he was thinking he was above it anyway. that is one point. the second, our unemployment rate is sky-high under timothy geithner. the national debt is sky high under timothy geithner. third, we have lost our national credit rating, our world
host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is...
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. >>> reaction to jack lew's nomination to be the next secretary treasurer is predictably falling along party lines. most agree lew will be confirmed by the senate. president obama officially nominated him yesterday. he's currently chief of staff. he said he trust lew's friendship and values his judgment. we'll take a quick break on a friday morning. >>> coming up on the "morning news," life follows art. a snake on a plane clings to a wing on a frigid two-hour flight. we'll find out if there's a hollywood ending when we come back on the "morning news." people don't realize that taxes and health care are connected. the affordable care act means big changes this year... when you file your taxes. i read the whole 900 pages. it literally took me weeks. i will give you a tax and health care review. i know the law. i have the solution... and i can help you figure it out. we're going to see this through together. capella university understands many schools don't have the resources they need. bright students are getting lost in the shuffle. and administration's work gets more complex every year
. >>> reaction to jack lew's nomination to be the next secretary treasurer is predictably falling along party lines. most agree lew will be confirmed by the senate. president obama officially nominated him yesterday. he's currently chief of staff. he said he trust lew's friendship and values his judgment. we'll take a quick break on a friday morning. >>> coming up on the "morning news," life follows art. a snake on a plane clings to a wing on a frigid two-hour...
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we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that. >> how can it be worse? >> actually our cliff bill was an absolute embarrassment to the united states of america. let me clarify. if we had gone over the cliff, it would have been an "f." and a total failure of our system. but when you analyze the bill, it was an "f" on spending. we actually increased spending. we didn't reduce 13e7bding. we increased spending. >> all the democrats tell me that there was already a trillion dollars of spending cuts that -- i didn't -- >> that was from august 2011. okay, but what i'm saying is, if you just look at this bill in isolation, it increased spending. it
we'll talk to you about if you're feelings of jack lew in a moment. on the deal that we did. you see everybody's taken the zeros off of what we owe and everybody's seen that now. i guess we're making $23,000 a year, we're spending $38,000. so we're adding $16,000 to our credit card bill every year. and we already owe $160,000 on our credit card bill. and the fiscal cliff deal cut $38 off of our expenses or something when you take everything off. is that -- >> actually worse than that....
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and jack lew, what an interesting signature this man has. if jack lew, president obama's nominee for treasury secretary gets the gig this scribble may be on all of your money. lew may have the most illegible signature of all time. look at it. it's nothing but a doodle. like nine loops in a row. >> that is something my 2-year-old would do. >> on treasury secretary. yesterday president obama assured the world that the american dollar is, in fact, safe. >> i had never noticed jack's signature. and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one lett lett letter legible, should he be confirmed as secretary of treasury. >> this is what his signature would actually look like on the dollar bill. that's just awful. >> is it third grade when they focus on your handwriting skills and penmanship? maybe he can sit in on a class. >> the treasury secretary wants to audit your class. >>> nine minutes past the hour. yesterday we brought you the l
and jack lew, what an interesting signature this man has. if jack lew, president obama's nominee for treasury secretary gets the gig this scribble may be on all of your money. lew may have the most illegible signature of all time. look at it. it's nothing but a doodle. like nine loops in a row. >> that is something my 2-year-old would do. >> on treasury secretary. yesterday president obama assured the world that the american dollar is, in fact, safe. >> i had never noticed...
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jack lew is himself a washington insider. he's well known to congress and he's there to shepherd the process along. he's not got the wall street experience that a lot of people on the street might be hoping for. but he really knows how to move the process forward. >> is that exposed to weakness? being an insider on the political front, but obviously having no external wall street experience, how much weakness is that, do you think? >> i think there are limits to what anybody can do does she. >> it's a round about, isn't it? >> but jack lew has one big advantage and that is that he's coming into office with the u.s. economy expanding. >> which is good news. tina, thanks for joining us. just to remeepd you what is on today's agenda in the united states, wells fargo is the first of the u.s. banks to report earnings this season.thely during that hour, best buy is going to be in focus, as well. we wanted to look at the governance reform. >>> still to come, all the latest on the italian elections when we come back in a few moments.
jack lew is himself a washington insider. he's well known to congress and he's there to shepherd the process along. he's not got the wall street experience that a lot of people on the street might be hoping for. but he really knows how to move the process forward. >> is that exposed to weakness? being an insider on the political front, but obviously having no external wall street experience, how much weakness is that, do you think? >> i think there are limits to what anybody can do...
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chief of staff jac jack lew was nominated as the secretary of treasury. a let of question about his signature. this is a grown man. this is his signature, doesn't resemble anything. president obama had a great joke about it today. bob and i were talking today, i realize bob was eating his lunch where the signature came from. checkbe this out. this is what bob eats for lunch. >> kimberly: that is why we have healthy snacks. okay. now we have a cute video here. if bill maher pays up. >> we have a new rule that suppose perhaps trump had been the spawn of his mother having sex with an orangutan. unless he comes up with proof, i am willing to offer $5 million to donald trump -- if he will come, that he can donate to a charity of his choice. >> kimberly: pay up. guess what, what did trump do? he had his lawyer right away. send et over. provide the proof he is in fa t
chief of staff jac jack lew was nominated as the secretary of treasury. a let of question about his signature. this is a grown man. this is his signature, doesn't resemble anything. president obama had a great joke about it today. bob and i were talking today, i realize bob was eating his lunch where the signature came from. checkbe this out. this is what bob eats for lunch. >> kimberly: that is why we have healthy snacks. okay. now we have a cute video here. if bill maher pays up....
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lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president wants jack lew there for these upcoming fiscal deadlines. the sequestration, the debt ceiling, things like that. he knows that jack is not just a tgh negotiator and i think this next point has gotten mixed he's a successful negotiator. i know republicans are complaining because he took a tough line back in 2011 with a lot of tea party folks but in fact he's been closing deals for 30 years the second thing is jack understands what it means, a very important part of the president's second term agenda. he understands what it means to get our debt on a sustainable trajectory. there's a lot that has to happen for that to occur.
lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president...
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tell me the problem with jack lew. >> so much problems, so few time. the first thing is a lock of integrity. it isn't even so much that he worked for wall street. it's that he was in charge of o.m.d. for president clinton and was one of the important architects of financial deregulation. that's why he's not willing to admit that, because his fingerprints are all over what caused the crisis. >> cenk: so that's interesting. >> if you don't ever integrity you don't get anything. >> cenk: he's part of the guys who deregulate the banks. he goes to the banks gets paid millions of dollars at those banks that deregulation causes those banks to crash. becoming the director of the office of management and budget, then chief of staff now secretary treasury. it's almost as if they reward failure in washington. >> it's not almost. i said this about geithner, that he was selected precisely because he had a track record of consistent failure and louis a worthy successor. on every important financial issue, he has been as wrong as it is possible to be wrong he's cause
tell me the problem with jack lew. >> so much problems, so few time. the first thing is a lock of integrity. it isn't even so much that he worked for wall street. it's that he was in charge of o.m.d. for president clinton and was one of the important architects of financial deregulation. that's why he's not willing to admit that, because his fingerprints are all over what caused the crisis. >> cenk: so that's interesting. >> if you don't ever integrity you don't get anything....
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. >> cenk: jack lew. >> jennifer: oh, i see you're going to fry him. he's not a guest. >> cenk: no. >> jennifer: cenk, cenk, cenk, honestly he's good guy. >> cenk: we're going to talk to william black one of the regulators on the s & l crisis. he thinks jack lew having worked for the banks is a significant issue. we'll talk about that. i want to talk about progressive victories as well, and victory after victory is the gay rights groups, which is great. they had an anti-gay pass taken out of the inauguration. how did they do it? i think a lot of progressives can learn from the gay rights movement. and then the press conference on guns control was interrupted by a gun shooting. >> jennifer: yes, i'm interested in the pastor who was pulled out. it's interesting how it was phrased, he decided to pull himself out but there is a lot going on behind the scenes and that's what you're looking at. >> cenk: absolutely. anyone who withdraws oh, i didn't want to cause a distraction, but normally it's the progressives who is withdrawing. how do progressives get tha
. >> cenk: jack lew. >> jennifer: oh, i see you're going to fry him. he's not a guest. >> cenk: no. >> jennifer: cenk, cenk, cenk, honestly he's good guy. >> cenk: we're going to talk to william black one of the regulators on the s & l crisis. he thinks jack lew having worked for the banks is a significant issue. we'll talk about that. i want to talk about progressive victories as well, and victory after victory is the gay rights groups, which is great. they...
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." >>> president obama named jack lew for budget secretary. some republicans are skeptical say the lew was less than honest about president obama's budget and its effects on the nation's debt. >>> the district is joining 18 states that have approved medical marijuana. in march those identified by the department of health will be able to buy up to 2 ounces of pot a month. here's fox 5's beth parker with our first glimpse into one of the dispensaries. >> reporter: it looks like a typical high end office, but you'll notice a lot of cameras around here, serious security. >> it's got the same kind of level security as in a bank. >> reporter: that's because this is capital city care, one of d.c.'s first medical marijuana dispensaries. es. >> you essentially just walked in the front door. this is the initial receptionist counter. >> reporter: david guard is the general manager who will oversee the upcoming opening. there's no marijuana here yet, but guard says they're already ready. >> i'm thrilled because i've seen it happen. i've seen ms patients i
." >>> president obama named jack lew for budget secretary. some republicans are skeptical say the lew was less than honest about president obama's budget and its effects on the nation's debt. >>> the district is joining 18 states that have approved medical marijuana. in march those identified by the department of health will be able to buy up to 2 ounces of pot a month. here's fox 5's beth parker with our first glimpse into one of the dispensaries. >> reporter: it...
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current chief of staff jack lew there on the left is now his nominee to be treasury secretary. his duties will include budget and tax policy as well as management of the debt. and the congressional black caucus is supporting oakland congresswoman barbara lee to take over the job as labor secretary. hilda solis announced she was leaving the post on wednesday. the 66-year-old lee has been serving the east bay in congress since 1998. >> in the south bay, student activists got high level exposure today when they met with a congressional leader over immigration reform. members of the group student advocates for higher education met with congresswoman zoe lofgren at her san jose office today, the minority chair of the house subcommittee on immigration. when lost gren was asked if meaningful immigration reform will happen this year, she suggested it's up to her republican counterparts. >> do they want to join with democrats and do top to bottom immigration reform or not? i can't make them do that. but if they care about the ture of their party, they'll make a decision to join with dem
current chief of staff jack lew there on the left is now his nominee to be treasury secretary. his duties will include budget and tax policy as well as management of the debt. and the congressional black caucus is supporting oakland congresswoman barbara lee to take over the job as labor secretary. hilda solis announced she was leaving the post on wednesday. the 66-year-old lee has been serving the east bay in congress since 1998. >> in the south bay, student activists got high level...
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i have the greatest respect for jack lew. i know him as a man of exceptional judgment, calm under pressure, with an extraordinary record of experience over the decades. at the center for american economic policy. he is committed to defending the safety net for the elderly and the pour. he understands what it takes to create conditions for broader economic growth and opportunity. and he understands that to govern responsibly is to govern with the recognition that we have limited fiscal resources. like jack, i have spent my professional life in this world of public policy and public service. as all of you know, our family carried a large share of the burden that we share in public like. i am incredibly proud that my wife and my family have been willing to allow me to do this and i think them for their support and their patience, and i understand their occasional impatience. [laughter] i want to express my admiration for the men and women of the treasury department. those who serve you during these years of crisis, and the civil
i have the greatest respect for jack lew. i know him as a man of exceptional judgment, calm under pressure, with an extraordinary record of experience over the decades. at the center for american economic policy. he is committed to defending the safety net for the elderly and the pour. he understands what it takes to create conditions for broader economic growth and opportunity. and he understands that to govern responsibly is to govern with the recognition that we have limited fiscal...
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jack lew. and here is what all the laughing was about. seems his signature is infamous. looks like a series of loops. the president joked they almost cost him the job. >> i never noticed jack's signature. when this was highlighted yesterday in the press i considered rescinding my offer to appoint him. jack assures me he will work to make at least one letter legible. >> the signature is on the lower right corner of all u.s. bills. >>> on wall street today, the dow is up 80 to 13,471. the nasdaq is up 15 at 3,121. the s&p is up 11 at 1,472. >>> the u.s. government unveiled sweeping new protection for future mortgage borerrers. i will require lenders to ensure a borer can pay back a loan. for most the rules will mean no more interest only mortgages. also no more loans that balloon over the years. and for the first time lenders will have to inspect and verify financial records. >> they will look at income, look at the ratio of their debt to income. they will make sure that the income is verified. the rules take effect in 2014. banks will have a better chance of shielding the
jack lew. and here is what all the laughing was about. seems his signature is infamous. looks like a series of loops. the president joked they almost cost him the job. >> i never noticed jack's signature. when this was highlighted yesterday in the press i considered rescinding my offer to appoint him. jack assures me he will work to make at least one letter legible. >> the signature is on the lower right corner of all u.s. bills. >>> on wall street today, the dow is up 80...
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. >> president obama nominated his chief of staff jack lew to serve as next treasury-secretary. he touted his past work. the budget ran a surplus during his tha time. he is going to replace tim geithner. >> if confirmed i look forward to joining the treasury department whose people are legendary with skill knowledge. >> lew became president obama's chief of staff last year and has a reputation of a tough bargainer but republicans say he has been too unyielding in past negotiations. >> it nearly fell through because of lew's signature. you can see it. that signature would appear on all u.s. paper money if he is confirmed. president obama said he never noticed it at before, he quote, considered rescinding the offer. he says he will try to improve his handwriting. >> do they still teach penmanship? >> sleeping pills that millions of americans use. >> plus, this animal has caused a lot of frantic 911 calls. is it a baby lion or a dog? we'll introduce you to him up next. >> and i'm sandhya patel. skies are clearing out. the chill is moving in. get ready for a freezing cold night. fre
. >> president obama nominated his chief of staff jack lew to serve as next treasury-secretary. he touted his past work. the budget ran a surplus during his tha time. he is going to replace tim geithner. >> if confirmed i look forward to joining the treasury department whose people are legendary with skill knowledge. >> lew became president obama's chief of staff last year and has a reputation of a tough bargainer but republicans say he has been too unyielding in past...
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lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president wants jack lew there for these upcoming fiscal deadlines. the sequestration the debt ceiling, things like that. he knows that jack is not just a tough negotiator and i think this next point has gotten mixed he's a successful negotiator. i know republicans are complaining because he took a tough line back in 2011 with a lot of tea party folks but in fact he's been closing deals for 30 years the second thing is jack understands what it means a very important part of the president's second term agenda. he understands what it means to get our debt on a sustainable trajectory. there's a lot that has to happen for that to occur.
lew the individual and what jack lew has stood for historically in his career and more about this administration's fiscal policy you can expect to see these confirmation hearings will be a proxy for the looming debt ceiling debate and other debates going forward about the administration's fiscal plan. >> woodruff: jared, whator all does this choice say about what the president's priorities are when it comes to the economy? >> i think it says two things. one is that the president...
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. >> president obama's cabinet shuffle continued today when he nominated jack lew for treasury secretary. he will have to hit the ground running. the nation is society to hit the borrowing limit at the end of january. the president insists lew is ready. >> having lew on your team is the equivalent of a culture to have the luxury of putting anyone in a position and knowing he will do well. >> president obama considered resending the nomination after seeing lew's signature which would be on all currency if confirmed. rick santorum is launching a campaign to defeat the nomination of rick hagel. he says hagel "antiisrael pro iran mindset makes him unqualified for the pentagon job." president obama nominated hagel on monday. >> we're now learning that it sequestration could mean a month-long furlough for civilian employees at the military. the plan requires $45 billion in budget cuts including a 15% cut in payroll. the pentagon says they are studying other options. >> the race is on for a new location for the f.b.i. political leaders from virginia are making their pitch to replace the hoover
. >> president obama's cabinet shuffle continued today when he nominated jack lew for treasury secretary. he will have to hit the ground running. the nation is society to hit the borrowing limit at the end of january. the president insists lew is ready. >> having lew on your team is the equivalent of a culture to have the luxury of putting anyone in a position and knowing he will do well. >> president obama considered resending the nomination after seeing lew's signature which...
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jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking
jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars...
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president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin decline. first up, scott thompson, english teacher is accused of pulling the flag off the wall and stomping on it in front of students feoffment speech or is american culture in decline. bob, taking the flag off the wall, stomping on it in front of kids? >> bob: it's terrible. i think there are laws against defacing a flag. not sure that he is not in that territory. to do it in front of kids, i'm not sure what the point was. he said it's cloth. it's more than cloth. represents a lot of thing. >> kimberly: fire him. this is outrageous. i would be so angry i would literally pro
president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin...
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jack lew has a clean slate. let's hope he uses it to get america out of this hole. before we go tonight, let's look at the day on wall street. it was a winner of a session today once again, this market wants to go higher and it did. up 80 points on the industrial average. the nasdaq up about 16 points, technology, one of the winning sectors and the s&p higher by better than 11 points. that will do it. hope you follow my on twitter and google plus. have a fantastic night. i'll see you tomorrow. but first, stay with cnbc. here's "fast money," it begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. banking on financials. wells fargo kicks off earnings season tomorrow. will the banks be big winners again in 2013? lumia lift? nokia surges on better than expected sales. should you be buying the hype? and debt threat. the queen of wall street gives her take on how the debt ceiling debate will effect your bond portfolio. first, our top story. stocks jumping to five-years highs. so, we ask, were you a buyer or seller today?
jack lew has a clean slate. let's hope he uses it to get america out of this hole. before we go tonight, let's look at the day on wall street. it was a winner of a session today once again, this market wants to go higher and it did. up 80 points on the industrial average. the nasdaq up about 16 points, technology, one of the winning sectors and the s&p higher by better than 11 points. that will do it. hope you follow my on twitter and google plus. have a fantastic night. i'll see you...
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jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the baton mostly to the fed. you know, whether lew takes a more activist role, he certainly is an obama loyalist, remains to be seen. i will say, you know, there's probably a little more contention in washington surrounding jack lew than there is, perhaps, on wall street right now. ashley: all right, jack. let me bring you in -- david, i'm sorry. jack, you had, we've heard from you. let's bring in david on where investors can make money in this market. what do can you like spa why? -- and why? >> sure. well, i'll make a comment on commoditi
jack lew, does he change things? obviously, we know he's in favor of big government, big spending, probably face a big fight for his confirmation. jack, do you think that changes anything for your markets outlook? >> it doesn't for me. i think the biggest change we're going to see right away is just new signatures on our currency. beyond that, you know, the treasury has at least under geithner in the second term here has really sort of backed away from center stage giving, handing the...
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jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the budget office and being the chief of staff for the president, the debt crisis has gotten much worse. i don't look at that reference and say, gee, this is a guy who is really going to fix the problem and i do think what we need in washington is he's been in washington in and out of government for 25 years and i guess my philosophy is, why not bring in some new faces, granted they are going to have the president's philosophy but maybe looking at new approaches to bringing this enormous debt down. >> steve, do you remember his record
jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the...
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perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
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jack lew was nominated, but take a look at the signature. the loopy marks barely resemble his name. if he takes office that's what will appear. so the president today joked that lew would work to make at least one of his letters -- tim geithner revised his own signature after he took off. >>> tonight is the premiere the nbc's new show "1600 penn." this sitcom follows president dave gilchrest through press conferences, cabinet meetings, state dinners, as he -- yesterday we sent our own gilchrist to catch up with president gilchrist. >> you actually are a gilchrist. my gosh. did you ever think that that name was a presidential name? >> reporter: you know it crossed my minute once or twice, but there's a story line to wake up watching morning news and thinks he's got a long-lost brother, that might be it. >> i think so that would be a great story line. >> i see this story goods on for many, many years to come. >>> you can watch the full interview on nbcwashington.com, just search pullman 1600 penn. it premiere tonight followed by a second episode at the regular time, 9:30, i think our
jack lew was nominated, but take a look at the signature. the loopy marks barely resemble his name. if he takes office that's what will appear. so the president today joked that lew would work to make at least one of his letters -- tim geithner revised his own signature after he took off. >>> tonight is the premiere the nbc's new show "1600 penn." this sitcom follows president dave gilchrest through press conferences, cabinet meetings, state dinners, as he -- yesterday we...
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it is up to the united states senate whether or not to confirm jack lew. the white house is selling this as a transition. that, by the way, is construction for the or parade here, the inaugural parade, if you heard the loud crash. the transition that you have now from really a rescue job that treasury secretary geithner was asked to do at the beginning of the administration now to one of budgeting. jack lew, the budget chief in the clinton administration, in the obama administration in the white house is basically saying that's why they chose him, the mastery of the federal budget. >> jack knows that every number on a page, every dollar we budget, every decision we make has to be an expression of who we wish to be as a nation. our values. the values that say everybody gets a fair shot at opportunity. and says that we expect all of us to pull fill our or individual obligations. >> reporter: republicans say that the lack of willingnesses to address entitlement spending and saying signals that the president -- this is senator mike lee -- will continue to purs
it is up to the united states senate whether or not to confirm jack lew. the white house is selling this as a transition. that, by the way, is construction for the or parade here, the inaugural parade, if you heard the loud crash. the transition that you have now from really a rescue job that treasury secretary geithner was asked to do at the beginning of the administration now to one of budgeting. jack lew, the budget chief in the clinton administration, in the obama administration in the...
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lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot to be done and i think appointing a somewhat more political person to the choices second chair will also indicate that obama means business is terrific doing this and in terms of ways to tackle the debt then there's been talk of a one trillion dollar platinum coin to be minted as a way to resolve the over sixteen trillion dollar debt do you see this is feasible is it crazy is it is a good idea how do you see this. theoretically is a very good idea isn't it if you have too much state you can just mend some coins and you're out of your trouble of course i think clearly this is just th
lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot...
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. >> right now in washington, president obama has officially nominated jack lew for treasury secretary. that announcement was made last than half an hour ago. he is if line to replace geithner. last year, he was chosen to be the president's chief of staff and has a reputation as a tough marketers. republicans claim he is few unyielding in past fiscal negotiations but he will unlawful be nominated for secretary of penmanship. can you read that signature? can you read that signature? it will be appearing on all u.s. money if he is confirmed and he will try to improve his handwriting. >> can we forge that? same reason i could never be treasury secretary, either. >> that was interesting. glad he doesn't write prescriptions. now, going outside, you can see the clouds are out there. i will keep the showers in the forecast going today and the cold air comes in tonight with the showers and that is the lingering legacy of the storm system and a chance of showers during the 49ers and packers playoff game. i will give you an update on that. >> the oscar nominations are out and we will go ron: yea
. >> right now in washington, president obama has officially nominated jack lew for treasury secretary. that announcement was made last than half an hour ago. he is if line to replace geithner. last year, he was chosen to be the president's chief of staff and has a reputation as a tough marketers. republicans claim he is few unyielding in past fiscal negotiations but he will unlawful be nominated for secretary of penmanship. can you read that signature? can you read that signature? it...